What is the new overpayment recovery rate? - CNBC
According to an emergency message released by the Social Security Administration, the Social Security Administration is stepping back from the 100 percent withholding rate on new overpayment benefits to 50 percent for select beneficiaries only. However, the agency has not confirmed this. It will affect new overpayment notices sent on or after April 25 for Title II benefits. What are Title II benefits? Title II benefits include retirement, survivors, and disability insurance; however, the withholding rate for Supplemental Security Income remains at 10 percent. Lori Konish, reporting for CNBC, discusses this change. Read Ms. Konish’s article here…
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